The PPP Unit of the BOI is the successor to the former Bureau of Infrastructure Investment (BII). during which time the PPP process was introduced in Sri Lanka for development activities. Several power projects & one shipping port has been developed during this time on PPP basis.

In August 2006, the Cabinet Sub-Committee on Investment Promotion approved the establishment of a public private partnership (PPP) Unit within the Board of Investment of Sri Lanka.

In October 2006, this Unit was officially established.

In November 2007, the Cabinet of Ministers decided that the PPP unit will assist other Government agencies in implementing PPP projects.